M&A Update: BCE Inc. volatility elevated on risk of completion of $51.2 billion deal
Posted by: in Private Industry NewsFiled under: Madison Dearborn Partners, Providence Equity Partners, Private equity industry
BCE Inc. (NYSE: BCE) is recently down 80 cents to $35.26.
BCE, Canada’s largest telecommunications company, announced on June 30, 2007, that it concurred to be acquired by an investment arm of Ontario Instructors Pension, Providence Partners and Madison Dearborn Partners for an announced deal price of $42.75 per share. The Federal Communications Commissions cleared the deal on Dec. 20.
BMO Capital Markets says, “we reiterate our view that BCE stock could trade down to $27 should the deal break and trade in the $30 range on a seasoned basis.” BCE Might option implied volatility of 48 is above its 26-week average of 31 according to Track Data, suggesting bigger movement.
M&A Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
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